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Live Webinar: Building an OFAC Compliance Program with the Right “Framework”

August 20, 2024 @ 1:00 pm - 2:30 pm

$195

A guide to building a Sanctions Compliance Program (SCP) based on Office of Foreign Assets Control (OFAC) enforcement actions and guidance from their publication, ‘A Framework for OFAC Compliance Commitments’:

Do you have an extra 30-40 hours to dedicate to studying another critical compliance responsibility for Sanctions and OFAC compliance? That’s the time it typically takes to understand what needs to be done and how to do it, before you even begin the hard work of implementation. If you have that kind of time, fantastic! However, if you’re like most compliance professionals, you don’t have such luxurious amounts of time available, and this webinar is designed specifically for you.

Similar to a fine juicer, this webinar extracts years of experience and dozens of hours of research (the vegetables), condensing it all into a digestible one-hour presentation (the juice!). Just like a glass of condensed nutrient-rich juice provides a quick dose of goodness in an easily consumed and digested form, this webinar will deliver the essential OFAC compliance information you need to confidently start crafting a new SCP, refining an existing one, or preparing to effectively manage an inherited program.

This webinar will focus on studying and explaining the practical requirements of an OFAC compliance program, based on how the government expects it to be managed. As you’ll discover, the government’s expectations and perceptions are often as important as the program’s actual effectiveness. As the old saying goes, “If you can’t prove you did it, in the government’s eyes, you may as well not have done it.’ While that may not be an actual saying, it underscores that good intentions and efforts alone won’t suffice in an investigation. Building a good SCP is essential to mitigate such risks. During this webinar, we will delve into the specific criteria that OFAC (and most other agencies) expect to see in your compliance program, as well as practical strategies to meet and exceed these expectations.

Webinar specifics:
• Recent enforcement cases and lessons learned. Did companies have SCPs that helped?
• ​Key components of an OFAC compliance program.
• A thorough review of “A Framework for OFAC Compliance Commitments” as follows:
     – OFAC’s expectations for foreign and domestic entities.
     – OFAC’s assessment of most common aggravating factors that could be easily mitigated.
• Management Commitment
     – Who is management?
     – How do you get their “commitment”?
• Risk Assessment
     – The most important step! How do you get it right?
     – How should this be recorded?
• Internal Controls
     – Policies and procedures. How to keep them right- sized based on risk assessment.
• Testing and Auditing
     – “IS IT AUDITABLE??” – the horrifying question that rings in the mind of every compliance professional.
     – Planning to make a testable program that not only gets the job done but proves it.
• Training
     – How to base training off risk. There’s that word again… (think the risk assessment is important yet?)
     – Considerations, options, and tips for delivering effective training

Who should attend:
• Trade Compliance Professionals
• Financial Professionals dealing with international transactions
• Supply Chain Professionals
• Freight Forwarders
• Authorized Agents
• Carriers
• And anyone else involved in any type of international transaction

This webinar will include PowerPoint slides and live video and commentary from Jonathan Young. Each registrant, even if unable to attend live, will have access to the presentation, certificate of completion, speaker contact information for follow-up questions, and access to the webinar recording within 1-2 business days after the webinar airs. Webinar participants are invited to submit questions during the webinar and the final 30 minutes will be allotted to answering attendee questions.

Speaker Bio: Jonathan Young served as a military intelligence analyst prior to transitioning to an export compliance career with a variety of experience in large commercial environments and niche military products. His areas of focus include export classification, AES filings, and due diligence screening. In both career fields, Jonathan has learned how to decipher government regulations, navigate sanctions, translate for engineers, and leverage the technology available to maximize results. Full bio here.

Computer Requirements:

  • Internet (broadband recommended)
  • Speakers/headset is required to hear the presentation

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Webinar Details

Air Date & Time

August 20, 2024 at 1:00 PM ET

Length

1 hour 30 minutes
Comprised of 1 hour of commentary and 30 minute Q&A session

Instructor

Cost

$195.00

ECoP® EAR or ITAR Renewal Credits

1

Contact Us for Sponsor Opportunities

Details

Date:
August 20, 2024
Time:
1:00 pm - 2:30 pm
Cost:
$195